Update to the requirements to file notification forms in The Bahamas

DMTT Registration and Filling Updates

The Department of Inland Revenue (DIR) announced key updates on the registration and filing  

timelines for constituent entities within multinational enterprise (MNE) groups thatt are subject to The Bahamas Domestic Minimum Top-Up Tax Act, 2024 (DMTT Act).  

One Tax Bahamas – The Bahamas’ new tax portal will require entities to register for a Bahamas Identification Number (BIN). Registration for a BIN number began on 1 May 2026 and can be completed by the entities Tax Representative.  

The Registration, Filing and Payment Portal for DMTT will be available from 1 June 2026. Before submission, a licensee from BICA (The Bahamas Institute of Chartered Accountants) must review the DMTT Return. For entities with fiscal years ending on 31 December 2024, the deadline for filing and payment under the scope of the DMTT Act is 30 June 2026.  

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Should you have any questions, please do not hesitate to contact us.

Overview

The Bahamas introduced the Domestic Minimum Top-Up Tax Act, 2024 in November 2024. All constituent entities in The Bahamas who are within the scope of this Act are required to file a “DMTT Notification Form” by 31 March 2026.

Subsequent to the filing of the notification form, entities will be required to register on The Bahamas’ new “One Bahamas” tax portal which is expected to open in the second quarter of 2026. The first filing and payment requirements in The Bahamas for entities who were in scope from 1 January 2024, will be due 30 June 2026 within the “One Bahamas” tax portal.

Who is required to submit a notification form?

Domestic members of a MNE Group whose consolidated financial statements have total revenues exceeding €750 million in at least two of the four tax years preceding the tested year. This includes all entities incorporated in The Bahamas and permanent establishments in The Bahamas of the MNE Group.

Contents of the notification

The notification must be submitted using the prescribed form on the DIR’s website. The form requires the following to be included:

-            Details of the local entity or permanent establishment;

-            Details of the MNE Group including annual revenue;

-            Information surrounding the MNE Group’s Country by Country Reporting status;

-            Details of the Ultimate Parent Entity including total revenue;

-            Details of the reporting entity.

How can we assist you?

The deadline for notification is rapidly approaching, and prompt action is necessary to ensure all data required for filing is readily accessible. Our team is available to support your notification needs. Please contact our tax department below for further information.